Sea Dragon Enters Into Agreement To Acquire Oil and Gas Assets in Egypt
Sea Dragon Energy Inc. (SDX.V) announced that it has entered into an arm's length share purchase agreement with Golden Crescent Investments Ltd. whereby an indirect wholly-owned subsidiary of Sea Dragon will acquire all of the issued and outstanding shares of National Petroleum Company Egypt Limited for consideration of US$60 million in cash and the issuance of 350,000,000 common shares of Sea Dragon to be issued to Golden Crescent at the closing of the Acquisition, at a deemed price of US$0.25 per share, subject to any adjustments made in accordance with the terms of the Purchase Agreement.
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